IC29 Mock Test Sample 16
General insurance claims involve documentation, survey procedures, liability assessment, recovery rights, and fraud prevention across motor, marine, health, and fidelity insurance. Jewellery and fidelity guarantee claims require detailed evidence and proof of loss. Surveyors appointed by insurers assess the cause, extent, and quantum of loss through preliminary, interim, and final reports. Marine insurance concepts such as actual total loss, salvage rights, ICC clauses, and subrogation are vital in cargo and hull claims. Public Liability and Motor Vehicles laws provide compensation mechanisms for third-party losses. Fraud detection, Ombudsman complaint procedures, and proper underwriting inspections help ensure transparent, fair, and efficient claim settlement processes.
Q1. All Risks (Jewellery) claim requires:
a) Valuation certificate, FIR and claim form
b) Only premium receipt
c) Only PA details
d) Only RC copy
Q2. Complaint to Ombudsman must generally be filed within:
a) 1 year from insurer’s reply/rejection
b) 1 month
c) 5 years
d) 10 years
Q3. Hull salvage/remains rights:
a) Pass to insurer after accepted abandonment
b) Always remain with insured
c) Sold only by customs
d) Belong to crew
Q4. Actual total loss in marine means:
a) Complete destruction or irretrievable loss
b) Partial destruction
c) Wet damage only
d) Short delivery only
Q5. Pre-inspection before policy issuance relates to:
a) Risk assessment at underwriting
b) Claim stage survey
c) Renewal only
d) Reinsurance
Q6. Surveyor for motor OD claim is appointed:
a) By insurer from licensed panel
b) By insured
c) By dealer
d) By broker
Q7. Final survey report contains:
a) Full assessment with recommendations
b) Only loss cost
c) Only salvage value
d) Only liability details
Q8. Subrogation under liability means:
a) Recovery from responsible third parties
b) Automatic settlement
c) No recovery rights
d) Only PA recovery
Q9. Fidelity Guarantee insurance covers:
a) Financial loss due to employee dishonesty
b) Fire stock loss
c) Theft by strangers
d) Marine cargo loss
Q10. Theft/pilferage is typically covered under:
a) ICC (A)
b) ICC (B) automatically
c) ICC (C) automatically
d) War clauses only
Q11. Recovery from motor third party means:
a) Insurer may recover from tortfeasor after payment
b) Recovery only from insured
c) Bonus recovery
d) Premium recovery
Q12. Multiplier method in MACT claims is used for:
a) Future loss of dependency calculation
b) IDV calculation
c) Bonus calculation
d) Premium calculation
Q13. Uninsured vehicle TP claim means:
a) Owner personally liable; Solatium possible for hit-and-run
b) All insurers share loss
c) No claim allowed
d) Only OD claim possible
Q14. Public Liability Act, 1991 mandates:
a) Compulsory cover for hazardous substance handlers
b) Voluntary cover only
c) Fire cover only
d) Theft cover only
Q15. Death benefit under PA policy is:
a) 100% of CSI
b) 50% of CSI
c) 10% of CSI
d) No benefit
Q16. Subrogation is a corollary to the principle of:
a) Indemnity
b) Utmost good faith
c) Insurable interest
d) Proximate cause
Q17. An interim survey report:
a) Updates progress on long claims
b) Is final report
c) Relates only to premium
d) Relates only to bonus
Q18. Claims fraud in health includes:
a) Fabricated admissions and inflated bills
b) Genuine hospitalization
c) Proper documents
d) Timely claim submission
Q19. Common insurance claim departments include:
a) Fire, marine, motor, engineering and miscellaneous
b) Only fire
c) Only marine
d) Only motor
Q20. Role of a surveyor in claims is to:
a) Assess cause and extent of loss
b) Issue policy
c) Collect premium
d) Market insurance policies
